Foreign direct investments 'up quite sharply' in Sept: Pernia


Posted at Nov 16 2017 11:13 AM

MANILA - Foreign direct investment were "up quite sharply" in the January to September period, Socioeconomic Planning Secretary Ernesto Pernia said Thursday.

Pernia said FDIs in the first 9 months of the year were "on the level of $5 billion" and the government expects the full year figure to "at least match" the $7.9 billion total in 2016.

"We expect more FDI's coming in," Pernia told reporters.

The government announced Thursday that gross domestic product grew 6.9 percent in the July to September period, beating analysts' estimates and accelerating from 6.7 percent in the second quarter.

Pernia said the FDI tally included reinvestments and funds parked in investment instruments aside from new projects.